Statutory Information

PF withdrawals get simpler

To learn more about sample forms download the attachments; 

Posted date: 23-02-2017

ESI - Get Clean in a SPREE !

To lean more about ESIC Spree download the attachment;

Posted date: 21-02-2017

PF Amnesty Scheme

The circular is attached for your reference.

Posted date: 21-02-2017

Section - 2, Income-tax Act, 1961-2016-Definitions

(15)  "charitable purpose" includes relief of the poor, education, 9[yoga,] medical relief, preservation of environment (including watersheds, forests and wildlife) and preservation of monuments or places or objects of artistic or historic interest, and the advancement of any other object of general public utility:
10[Provided that the advancement of any other object of general public utility shall not be a charitable purpose, if it involves the carrying on of any activity in the nature of trade, commerce or business, or any activity of rendering any service in relation to any trade, commerce or business, for a cess or fee or any other consideration, irrespective of the nature of use or application, or retention, of the income from such activity, unless—
 (i)  such activity is undertaken in the course of actual carrying out of such advancement of any other object of general public utility; and
(ii) the aggregate receipts from such activity or activities during the previous year, do not exceed twenty per cent of the total receipts, of the trust or institution undertaking such activity or activities, of that previous year;]

Posted date: 20-02-2017

FCRA - Goes further online !! NGO's - Now to have Higher Disclosure Norms

FCRA, essentially a Security legislation administered by the Ministry of Home Affairs to see that the Charity route of foreign funding is not a threat to National security. In recent months, it has come under controversy. On the one hand alleged to be an instrument to control activists funded from overseas as also for mass cancellation of registrations due to non-compliance of return filing as per FCRA obligations. The NGO community have also had their own concerns on the quality and efficiency of FCRA administration such as returns filed but not received by the FCRA Dept, the protracted processes of obtaining registration or renewals or any issue resolution.

On December 14th, 2015, the FCRA was amended to mandatorily bring it online only, be it for Registration, renewals or return filings. Higher disclosure requirements by the NGO and their Banker who receives foreign funds and online intimation of any material changes in the NGO's governance and administration.

The Notification is attached herewith for your ready reference.

Posted date: 29-01-2016

West Bengal Professional Tax Return Frequency and Timeline

West Bengal Professional Tax department has notified through its Gazette Notification that the Return filing to be made Annually. . Earlier frequency for filing of Professional Tax return was on a Quarterly basis which is now amended to Annual. Now Companies need to file their Professional Tax annual returns on or before 30th April, which is within one month from the date of expiry of financial year.

This new change is effective from Financial year 1st April 2014 onwards, that means, The return filing for the year 2014-15 would require to be filed by 30th April 2015. However for the FY 2014-15, the government has extended timeline for electronic filing by 30th June 2015 and for physical return filing by 15th July 2015. Refer to the below link for extension of due date.

Posted date: 03-08-2015

Extension of ITR filing due date FY 2014-15

Central Board of Direct Taxes (CBDT) has extended the due date for filing of Individual Income Tax returns for the Financial Year 2014-15 (Assessment year 2015-16) vide its Notificated dated 10th June 2015.

Copy of the Notification attached for reference.

Posted date: 01-08-2015

Provident Fund Payment only through internet banking

New Delhi, the 5th May. 2015 [PART II-Sa. 3(i)1

G.S. R. 360(E).- In exercise of the powers conferred by section 5 read with sub- section (I) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees' Provident Funds Scheme, 1952, namely:-

J. (I) This Scheme may be called the Employees' Provident Funds (Second Amendment) Scheme, 2015.

(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Employees' Provident Funds Scheme, 1952 (hereafter referred to as Principal Scheme), in sub-paragraph (1) of paragraph 38 :-
(I) for the word, "by separate bank drafts or cheques", the words "electronic through internet banking of the

State Bank of India or any other Nationalised Bank authorized for collection" shall be substituted.

ii} for first and second provisos., the following shall be substituted, namely:-

"Provided that the Central Provident Fund Commissioner may for reasons to be recorded in writing, allow any employer or class of employer to deposit the contributions by any other mode other than internet banking" .

3. ln the Principal Scheme, for paragraph 48 the following paragraph shall be substituted as under:

"48. Current Account:- The Commissioner shall deposit the contributions received from the employers electronically through internet banking or any other mode other than internet banking in the Reserve Bank or the State Bank of lndia or any other Nationalised Bank in the Current Account of the Fund."

Further information is available in the below links: - For Online Payment - Process flow regarding Online Payment - For list of banks

Posted date: 25-06-2015

Usage of DSC for all FCRA Forms

Ministry of Home Affairs has issued Circular No. 28022/59/(08)/2015/FCRA-I on June 3rd, 2015 stating that the department is planning to implement use of digital signature certificates for all FCRA purposes. Once implemented, all FCRA forms for registration, renewal, change intimation and annual returns to be signed digitally. The DSC used for filing Income Tax returns and other purposes can be used for FCRA purposes as well. The circular is attached herewith.

Posted date: 22-06-2015

Change in PT Slabs – Maharashtra

The Government of Maharashtra has introduced changes to Profession Tax rates effective 01-July-2014. The revised tax slabs for salaried employees in Maharashtra are as follows.
Salary for the month in Rs Profession Tax for the month in Rs
Less than or equal to 7,500 Nil
7,501 to 10,000 175
10,001 and above 200 per month except for February (Rs. 300 for February)

Notification extract Issue from Maharashtra is enclosed for your reference.

Posted date: 07-06-2015